Write a note on National Bank for Agriculture and Rural Development (NABARD)?

 National Bank for Agriculture and Rural Development (NABARD)

NABARD was established on 12 July 1982 to implement the national Bank for Agriculture and Rural Development Act 1981. It was set as an apex Development Bank with a mandate for facilitating credit flow for promotion and development of agriculture, small scale industries, cottage and village industries, handicraft and other rural crafts. The Rural Bank of India's (RBI's) functions of Agricultural Finance and Rural Development (AFRD) including the control of cooperation Banking system was taken up by NABARD from 1982 onward. Since than, NABARD is working as an apex financial institution and regulator of cooperative banking system in India. NABARD has been discharging its role as  a facilitator for rural development since the inception. The head office of NABARD is situated in Mumbai. some of the major activities of the NABARD since its inception are as follows :

1. Preparing of Potential Linked Credit Plans for identification of exploitable potential under agriculture and other activities available for development through bank credit.
2. Refinancing  bank for extending loans for investment and productions purpose in rural areas.
3. Providing loans to State Government/Non-Government Organisation (NGOs)/Panchayati Raj Institutions (PRIs) for developing rural infrastructure.
4. Supporting credit innovations of NGOs and other non formal agencies.
5. Extending formal banking services to the unreached rural poor by evolving a supplementary credit delivery strategy in a cost effective manner by promoting Self Help Group (SHGs).
6. Promoting participatory watershed development for enhancing productivity and profitability of rainfed  agriculture inn a sustainable manner.
7. On-site inspection of cooperative banks and RRBs and off-site surveillance over health of cooperatives and RRBs.